Some say the concept of cash loans first began in Bangladesh thirty years ago. Nobel Prize winner Muhammad Yunus began a microloan company to help out Asian villagers who fell between the cracks of the national banking system. He set up a "peer lending" community, where people would come together, talk about finance at weekly meetings and monitor each other's repayment. Yunus has since opened eleven banks in New York City to assist immigrants there. With rising financial fees at banks and stricter standard loan criterion, cash loans are becoming more and more salient.

For many small businesses, cash loans as little as £800 can go a long way. For some it means paying off a stack of unpaid bills. For others, it can be a much-needed marketing boost before the holiday season or used to cover at-home expenses so they can spend more on their businesses. A Payday loan can help jump-start a new operation with paper supplies or other necessary start-up costs. Rather than pull equity from one's house, a pay day loan is more straight-forward and aren't attached to any of your existing assets.

Additionally, cash loans help the middle class who's struggling from pay cheque to pay cheque. "We're the bridge between the poor and the middle class," said Kersten Hostetter, a Denver, Colorado lender. "We didn't brand ourselves initially because there wasn't a need for it." She explained how her Micro Business Development Corporation created thousands of local jobs and boosted the economy by more than $15 million.

A Payday loan can free up a lot of time and reduce a huge amount of stress for lower income families, so they can focus on more productive goals - like finding supplemental work or looking at ways to cut back. When people are being hassled by creditors or worrying about how they'll put enough fuel in the tank to get to work this week, their entire lives are consumed by this cloud of debt hanging over their heads.

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